I use steemit to assign school work for my son, it is 10% of his English Grade. I give him the freedom to post what he wants to post about. He recently cashed out for the first time and got something he has been wanting for a while but Mom wouldn't buy it because of the cost.
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I don't do grades. They are kind of motivated by the wallet for similar reasons though :) Only problem is once they get on the computer to write a post Youtube and games are much more enticing and interesting, sigh :)
Money hasn't never motivated my son, well at least till recently. I think him seeing a good amount has changed his view, but I knew it would be a good way to him to save and I knew the only way he would post regularly is if I made it apart of his grade. I told him it was 10% but I am only grading on participation if he makes a post daily he gets the points. We didn't do grades till High School. We started doing grades for transcripts purposes. He might need transcripts for a job or if he decides to go the traditional University route to further his education.